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Tag Archives: oil supply
Oil hits new post-2009 low below $56 as supply glut prevails | Reuters
Oil hits new post-2009 low below $56 as supply glut prevails | Reuters. (Reuters) – Brent crude LCOc1 reversed early gains on Friday to fall to a fresh post-2009 low below $56 a barrel, as a glut of oil that has halved prices since June outweighed investors positioning at the start of the year for a possible eventual […]
Energy Crisis As Early As 2016
Energy Crisis As Early As 2016. Low oil prices today may be setting the world up for an oil shortage as early as 2016. Today we have just 2% more crude oil supply than demand and the price of gasoline is under $2.00/gallon in Texas. If oil supply falls too far, we could see gasoline […]
Oil’s wild ride in 2014 signals return to volatility – Business – CBC News
Oil’s wild ride in 2014 signals return to volatility – Business – CBC News. After five years in which oil traded in a narrow band around the $100 US a barrel mark, crude markets returned to volatility this fall. Back in late June of this year, oil was trading at $107 US a barrel. At […]
Violence In South Sudan Threatens Chinese Oil Investment
Violence In South Sudan Threatens Chinese Oil Investment. On December 15, 2013, fierce fighting broke out in South Sudan’s capital, Juba. Rebel forces loyal to Machar targeted South Sudan’s oil fields, and what started as a clash, quickly escalated to a civil war. Violence swept the country, killing tens of thousands people and displacing over […]
Oil Price Scenarios for 2015 and 2016 – The Automatic Earth
Oil Price Scenarios for 2015 and 2016 – The Automatic Earth. A couple of weeks ago I had a post titled The 2014 Oil Price Crash Explained that was cross posted to over 20 other blogs including The Automatic Earth and Zero Hedge. In this post I use the empirical supply and demand dynamic described in that earlier post (Figure […]
“Oil May Drop To $25 On Chinese Demand Plunge, Supply Glut, Ageing Boomers” | Zero Hedge
“Oil May Drop To $25 On Chinese Demand Plunge, Supply Glut, Ageing Boomers” | Zero Hedge. We have forecast since mid-August that Brent oil prices would fall to “$70/bbl and probably lower”, and the US$ would see a strong rise. As Chart 1 shows, Brent has now reached our target, falling 40%, whilst the US$ […]
Oil: The Battle For Market Share & The Saudi’s 1985 Playbook | Zero Hedge
Oil: The Battle For Market Share & The Saudi’s 1985 Playbook | Zero Hedge. Via BofAML’s Jake Greenberg, OIL: the battle for market share & the Saudi’s 1985 playbook Stay positioned for “a good sweating” = stay short the SXEP (European Oil & Gas Stocks) and sell rallies In 1985, the Saudis chose volume over price to […]
OPEC chief says no target price, but oil slide beyond fundamentals | Reuters
OPEC chief says no target price, but oil slide beyond fundamentals | Reuters. (Reuters) – The head of OPEC said on Sunday the group had no target price for oil, signaling no change to a policy to maintain production levels which has contributed to sharp falls in the price of crude, unnerving global markets. Speaking […]
U.S. Getting Rid of Oil Addiction as Price Plummets in Glut – Bloomberg
U.S. Getting Rid of Oil Addiction as Price Plummets in Glut – Bloomberg. The U.S. is producing the most oil in 31 years, economic growth is picking up and crude prices are plunging. So why is Americans’ use of petroleum waning? As the U.S. moves closer and closer to energy independence, greaterfuel efficiency, changing demographics […]
Brent falls close to $69 after Saudi price cut | Reuters
Brent falls close to $69 after Saudi price cut | Reuters. (Reuters) – Brent crude fell close to $69 a barrel on Friday, putting it on track for a second weekly decline, as cuts to official selling prices from Saudi Arabia reverberated across the market. Some analysts said the Saudi cuts to monthly prices for crude it sells to […]
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom
US crude imports from Non-OPEC countries peaked 10 years before tight oil boom. In part 3 of this series on the impact of US tight oil, we look at US crude oil imports from Non-OPEC countries. Excluding Canada – which is a special case due to its integration into the North American oil market – […]
There Are 300,000 Iraqi Barrels Signaling Oil Glut Will Deepen – Bloomberg
There Are 300,000 Iraqi Barrels Signaling Oil Glut Will Deepen – Bloomberg. Not only is OPEC refraining from cutting oil output to stem the five-month plunge in prices, it’s adding to the supply glut. Just five days after the Organization of Petroleum Exporting Countries decided to maintain production levels, Iraq, the group’s second-biggest member, inked […]
OPEC Inaction Spurs Survival of Fittest as Oil Below $65 – Bloomberg
OPEC Inaction Spurs Survival of Fittest as Oil Below $65 – Bloomberg. West Texas Intermediate tumbled below $65 a barrel to the lowest level since July 2009 amid speculation prices have further to drop before OPEC’s decision to maintain output slows U.S. shale supply. Benchmark futures in New York and London slumped as much as 3.7 percent, […]
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge
US “Secret” Deal With Saudis Backfires After Oil Minister Says US Should Cut First | Zero Hedge. Who could have seen this coming? With oil prices holding at 4-year lows, heavily pressuring around half of US shale production economics, the “secret” US deal (see hereand here) with Saudi Arabia to crush Russia via oil over-supply […]
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters
Saudis signal no push for oil cut as market to ‘stabilize itself’ | Reuters. (Reuters) – OPEC leader Saudi Arabia signaled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut. Saudi Oil Minister Ali al-Naimi said […]
